I see a $150 processing fee on our proposal. What is this for?
The processing fee includes all administrative costs for policy placement, documents, welcome letters, and carrier communication.
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4294 Dahlberg Drive, Golden Valley, MN 55422
Archives FAQs
What is a Finance Agreement?
A finance agreement for an HOA insurance policy is a payment arrangement that allows your association to spread out the cost of its annual insurance premium instead of paying it all up front. A financing company pays the full premium…
Why did I receive a call/text from a different company for an inspection?
You may have received a call from a different company because carriers often hire third-party vendors to complete property inspections on their behalf. These vendors handle the scheduling directly, and Insurance Warehouse is not involved in setting up those inspection…
Will our HOA need to have an inspection?
Yes, most carriers will require an inspection as part of the underwriting process. These inspections are typically focused on the exterior of the buildings and may include a review of roofs, siding, common areas, and overall property condition, as well…
We were asked if our association has Stab-Lok or Federal Pacific breakers. What if I’m not sure what type of breakers we have?
If you’re unsure, it’s important to have a qualified electrician inspect your electrical panels to confirm. Stab-Lok and Federal Pacific breakers are known fire hazards and are often considered uninsurable by many carriers due to their history of failure. If…
Will we receive a discount for updating our roofs to high-grade shingles?
In many cases, yes. Upgrading to impact-resistant, Class 4 shingles can qualify your association for premium discounts, often ranging from 5 to 35%, depending on the carrier. These shingles are more durable and better able to withstand hail and severe…
Our association has a sprinkler system. Will that result in lower premiums?
Associations with properly installed and maintained fire sprinkler systems often qualify for lower premiums or more competitive pricing, since sprinkler systems significantly reduce the risk and severity of fire-related losses. This may make your association more favorable to insurers, however,…
One of our unit owners wants to get a hot tub. Is that allowed?
It depends on your association’s governing documents and approval process. The owner should first review the Declaration and Rules & Regulations and obtain board approval, as hot tubs can raise concerns around structural load, water damage, and liability. It’s also…
What can we do proactively to receive the best insurance rates?
The best way to secure competitive rates is through strong risk management and consistent property upkeep. This includes staying on top of maintenance, addressing potential hazards early, and taking steps to prevent claims—especially related to water, fire, and liability exposures.…
What are the rules around grills in our association?
Most carriers require grills to be kept at least 10 feet away from any building or structure due to fire risk. This often means grills are not allowed on decks, balconies, or directly adjacent to units. Associations should also check…